Yellen Confirmed As Fed Chairwoman

Jan 7 2014 | 2:07am ET

The U.S. Senate yesterday confirmed Janet Yellen to become the first woman to lead the Federal Reserve.

Yellen's nomination was easily approved by a vote of 56 to 26, with nearly a dozen Republicans joining the chamber's Democrats in backing the current Fed vice chairwoman. Still, Yellen's margin of victory was the smallest ever for a Fed chairman.

Yellen will succeed Ben Bernanke, who has led the central bank for eight years, on Feb. 1.

A former president of the Federal Reserve Bank of San Francisco, Yellen has been vice chairwoman of the Fed since 2010. She served as chairwoman of the Council of Economic Advisors under President Bill Clinton.

Yellen voted alongside Bernanke to begin cutting back on the Fed's bond-buying economic stimulus program last month. That may have eased her path with Senate Republicans, who have expressed concerns about the Fed's monetary policy.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Is Steven Cohen Going to Buy the Brooklyn Nets?

Jan 19 2015 | 6:49am ET

Rumors that Steve Cohen was interested in the Brooklyn Nets emerged after Scott...

Guest Contributor

Investors Benefit From Evolution Of Fund Of Hedge Funds Model

Jan 22 2015 | 12:27pm ET

The evolution of the fund of hedge funds model over the last few years represents...

 

Editor's Note